From left: Oceana Key Biscayne renderings and Eduardo Costantini

UPDATED, 5:30 p.m., June 18: Oceana Key Biscayne, the first U.S. development of Argentine real estate mogul and art collector Eduardo Costantini, is more than 90-percent sold-out pre-construction, leaving only 1 penthouse and 6 villas on the market 10 months after sales opened, The Real Deal has learned.

Oceana, the first new development in Key Biscyane in nearly 13 years, is scheduled to receive its final touches in July.

When completed in 2014, the Bernardo Fort-Brescia of Arquitectonica-designed all-glass, 14-story double tower on a 10.3-acre site will constitute a gated community with 142 units and 500 feet of private beach.

Costantini, chairman of the Nordelta gated community outside Buenos Aires and the founder of the Argentine capital’s Malba art museum, may exhibit works from his private collection in the Yabu-Pusehlberg-designed lobby. The community will also feature a social lounge, restaurant, pools, cabanas, a tennis court and a putting green.

The 5,187-square-foot, two-story villas with private pools on expansive private lots will be open for viewings starting August 15. Work is underway at Oceana Bal Harbour, Costantini’s development company, Consultatio, confirmed. –Emily Schmall